There’s no doubt that marketing is a lucrative endeavor. Every business needs to market itself in one way or another. Most businesses need assistance with developing and executing a successful marketing campaign, so marketing agencies present an interesting opportunity to capitalize on this need.
That said, there are literally thousands of marketing agencies out there, with new ones popping up every day. This can make newcomers feel intimidated by the competition. So, should you start a marketing agency in 2020? Entrepreneur and marketing guru Dylan Vanas thinks that the answer is “yes.”
Dylan Vanas on Why You Should Start a Marketing Agency in 2020
2020 is already a complicated year for most businesses. In addition to the competition from existing marketing agencies, COVID-19 has changed the way many industries operate. It has even resulted in less revenue for marketing and advertising agencies. However, this doesn’t mean that the demand for marketing will suddenly drop off.
“COVID-19 is a terrible tragedy that continues to affect millions of people around the world,” said Dylan Vanas. “However, it also offers an opportunity for newcomers in the marketing arena. Many marketing agencies have had to either downsize or close their doors because the pandemic took them by surprise. Like any business, a marketing agency may need to take on debt or a lot of overhead to grow their brand. When revenue suddenly dropped, it put many marketing agencies in a tough position. So, now is the moment for new entrepreneurs to enter the field.”
Dylan Vanas Thinks You Should Go For It, But Proceed With Caution
In a way, COVID-19 provides an important cautionary tale for new marketing agencies. 2020 is a great time to enter the field, but that doesn’t mean you should drain your savings and throw everything you have into a new business. Instead, Dylan Vanas says to start small and grow as you learn more about the industry.
“As an entrepreneur, I’ve never been a fan of the ‘diving in headfirst’ approach to starting a business. Yes, you have to take on risk when you start a marketing agency, but you should start small and proceed with caution. Don’t make the same mistakes as other agencies that have had to close their doors this year. Remember, you don’t need a huge office and staff to start a marketing agency. You can start as a one-person operation and slowly expand as you get new clients. 2020 is the perfect time to start, but don’t get in over your head financially. If you do, you could end up with nothing.” – Dylan Vanas
So, should you start a marketing agency in 2020? Dylan Vanas says yes, but make sure you do your research first. Marketing is a competitive field and the events of 2020 have forced many businesses to reduce their marketing budgets. Thus, you should start small and proceed with caution.